Introduction

Edition 28/20-21

Week – January 25th to January 29th  

Quote for the week:

“People will love you one week will hate you the next week, make sure you get paid both weeks.”

            - Connor McGregor

We welcome you to our weekly newsletter!

The ‘Swift e-Bulletin’ - weekly newsletter, covers all regulatory updates and critical judgements passed during the week. We hope that you liked our previous editions and found it to be of great value in its content. We want this newsletter to be valuable for you so, please share your feedback and suggestions to help us improve.

In the wake of COVID-19, the various regulatory authorities have been granting many relaxations, exemptions and amendments to the various legislations by regulatory authorities to ease out the operations during this time of crisis.

Further, various regulatory authorities have been proactive in bringing significant regulatory changes in recent challenging times. This week’s newsletter covers various Circulars/notifications issued by certain regulatory authorities such as, the Ministry of Corporate affairs (“MCA”), and critical judgements and orders passed by the National Company Law Tribunal (“NCLT”), SEBI, Supreme Court and High Court.   

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of January 25, 2021 to January 29, 2021.

Thank you,

Swift Team

Table of Contents

REGULATORY UPDATES.

MCA UPDATES.

1. MCA amends the Companies (Incorporation) Rules, 2014 vide Gazette Notification dated January 25, 2021
2. MCA provides relaxation on levy of additional fees in filing for e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL and AOC-4 Non-XBRL for the year ended March 31, 2020 vide General Circular No 04/2021 dated January 28, 2021 

JUDGEMENTS/ ORDERS.

NCLT.

1. National Company Law Tribunal allows the Restoration of M/s Sangam Buildwell Private Limited

SEBI

1. Adjudication order in respect of Adjudication Order in respect of Timbor Home Limited

HIGH COURT.

1. The Delhi High Court allowed the Plantiff’s application for adjudication by the arbitral tribunal for deeper consideration.
2. The application filed by Centrient Pharmaceuticals Netherlands B.V was dismissed by the Delhi High Court for want of merit, where the suit was filed for seeking permanent injunction against the defendant
3. A former judge of the Delhi High Court, Justice (Retired) R.C. Chopra, was appointed as the Sole Arbitrator to adjudicate the disputes that have arisen between the parties in connection with the Work Order

SUPREME COURT.

1. The Supreme Court affirmed that once procession is taken by the State, the land vests absolutely with the State and the title of the landowner ceases.

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